[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1472 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 1472

 To provide for sufficient funding to cover the costs of the Financing 
Corporation, to provide funds to carry out the purposes of the Savings 
          Association Insurance Fund, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 7, 1995

 Mr. LaFalce introduced the following bill; which was referred to the 
              Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
 To provide for sufficient funding to cover the costs of the Financing 
Corporation, to provide funds to carry out the purposes of the Savings 
          Association Insurance Fund, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financing Corporation and Savings 
Association Insurance Fund Restoration Act of 1995''.

SEC. 2. AVAILABILITY OF RTC FUNDS TO RECAPITALIZE SAIF.

    (a) In General.--Section 11(a)(6)(F) of the Federal Deposit 
Insurance Act (12 U.S.C. 1821(a)(6)(F)) is amended--
            (1) in the provisions of such subparagraph preceding clause 
        (i), by inserting ``to carry out the purposes of this Act'' 
        after ``as needed by the Fund''; and
            (2) by inserting a period after ``not needed by the 
        Resolution Trust Corporation'' and striking everything that 
        follows through the end of the subparagraph.
    (b) Technical and Conforming Amendment.--Section 11(a)(6)(K) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(a)(6)(K)) is amended by 
striking ``to cover losses incurred by the Fund'' and inserting ``to 
carry out the purposes of this Act''.

SEC. 3. SAIF PAYMENTS TO FICO.

    (a) In General.--Section 21(f) of the Federal Home Loan Bank Act 
(12 U.S.C. 1441(f)) is amended by redesignating paragraph (3) as 
paragraph (4) and inserting after paragraph (2) the following new 
paragraph:
            ``(3) Payments from saif.--In addition to the amounts 
        available pursuant to paragraphs (1) and (2), the Federal 
        Deposit Insurance Corporation shall make available to the 
        Financing Corporation such amounts as may be prudently 
        transferred from the Savings Association Insurance Fund, taking 
        into account funds available to such Fund pursuant to section 
        11(a)(6)(F) of the Federal Deposit Insurance Act, to cover the 
        interest payments, issuance costs, and custodial fees on 
        obligations issued by the Financing Corporation.''.
    (b) Technical and Conforming Amendment.--Section 11(a)(6)(K) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(a)(6)(K)) is amended by 
striking ``to cover losses incurred by the Fund'' and inserting ``to 
carry out the purposes of this Act''.

SEC. 4. REPEAL OF MINIMUM SAIF ASSESSMENT RULE.

    Section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(b)(2)) is amended by striking subparagraph (E).

SEC. 5. CLARIFICATION THAT CERTAIN INSTITUTIONS INSURED BY THE SAIF ARE 
              SUBJECT TO FICO ASSESSMENTS.

    Section 21(f)(2) of the Federal Home Loan Bank Act (12 U.S.C. 
1441(f)(2)) is amended by inserting after ``Savings Association 
Insurance Fund member'' the following: ``, including any Savings 
Association Insurance Fund member referred to in section 5(d)(2)(G) of 
the Federal Deposit Insurance Act and, in the case of any Bank 
Insurance Fund member which has deposits which are treated (under 
section 5(d)(3) of such Act) as deposits which are insured by the 
Savings Association Insurance Fund, the adjusted attributable deposit 
amount with respect to such member as determined under subparagraph (C) 
of section 5(e)(3) of such Act for purposes of subparagraph (B)(i) of 
such section,''.
                                 <all>